Golub Capital Provides $75 Million One-Loan Debt Facility to Support the Acquisition of Amazing Lash Studio by WellBiz Brands
CHICAGO, Sept. 13, 2018 /PRNewswire/ — Golub Capital recently announced that, as Administrative Agent, Sole Lead Arranger and Sole Bookrunner, it provided a $75 million GOLD facility to support the acquisition of Amazing Lash Studio by WellBiz Brands, Inc. (“WellBiz Brands” or “the Company”). GOLD financings are Golub Capital One-Loan Debt facilities.
WellBiz Brands is one of the largest health and wellness companies in the United States, managing three franchise brands – Fitness Together®, Elements Massage® and FIT36® – with a combined 400 locations nationally. The acquisition of Amazing Lash Studio, the largest global eyelash extension franchise, adds one of the fastest growing franchise brands to the WellBiz Brands portfolio and further expands the Company’s broad line of health and wellness offerings.
In addition to supporting the acquisition of Amazing Lash Studio, the GOLD facility from Golub Capital also provides significant capital to support the Company’s ongoing growth initiatives.
“WellBiz Brands and Golub Capital have shared values of long term partnership and a commitment to excellence, which was evident while working on this deal,” said Craig Palmer, Principal at Golub Capital. “We are thrilled to support WellBiz Brands and look forward to a lasting collaboration.”
“We were looking for a solution that not only allowed us to execute our current acquisition, but also gave us flexibility for the future growth of WellBiz Brands,” said Joe Luongo, Executive Chairman of WellBiz Brands. “The Golub Capital team’s core retail sector expertise, flawless professionalism and flexible one-stop financing solution gave us the certainty that Golub Capital was the ideal long-term partner to support us.”
About Golub Capital Middle Market Lending
Golub Capital’s Middle Market Lending group provides financing for middle market, private equity-backed transactions with hold positions of up to $600 million and is an arranger of credit facilities up to $1 billion. Golub Capital’s award-winning team strives to establish long-term, win-win partnerships by providing dependable, fast and creative solutions that meet private equity sponsors’ and portfolio companies’ needs.
Golub Capital is a nationally recognized credit asset manager with over $25 billion of capital under management. For over 20 years, Golub Capital has provided credit to help medium-sized U.S. businesses grow. The firm’s award-winning Middle Market Lending business provides financing for middle market companies and their private equity sponsors. Golub Capital’s credit expertise also forms the foundation of its Late Stage Lending and Broadly Syndicated Loan businesses. Golub Capital has worked hard to build a reputation as a fast, reliable provider of compelling financing solutions, and we believe this has inspired repeat clients and investors. Today, the firm has over 350 employees with lending offices in Chicago, New York and San Francisco. For more information, please visit golubcapital.com.
About WellBiz Brands, Inc.
WellBiz Brands, Inc. is the manager of three health and wellness franchise brands: Elements Massage®, FIT36® and Fitness Together®. Headquartered in Englewood, Colorado, WellBiz Brands, has over 400 combined U.S. locations across the three brands. Through the WellBiz Brands support staff, the brands strive to uphold these core values: fun, ownership, respect, passion, and integrity. These core values embody all that is important for each brand – from franchise owners to clients – to lead healthy, balanced lives. All three brands offer unique franchise opportunities for entrepreneurs from all walks of life and various investment levels, with a fresh focus on recurring revenue models.
About Amazing Lash Studio
Amazing Lash Studio was founded in 2010 with a vision to be the leading provider of eyelash extensions. Amazing Lash Studios apply semi-permanent eyelash extensions with a proprietary, patented process to the clients’ own lashes, replicating the curve and size of natural lashes. The concept began franchising in 2013 and to date has 200 open studios in 33 states and 714 Regional Developer Units awarded. In 2018, Amazing Lash Studio earned the rank of #5 on Entrepreneur Magazine’s Top New Franchises and #260 on the Inc. 500 in its inaugural year. For additional information, visit AmazingLashStudio.com.
SOURCE Golub Capital